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Started By
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re: A record 36% of U.S. adults now have more credit card debt than savings.
Posted on 2/28/23 at 5:18 pm to stout
Posted on 2/28/23 at 5:18 pm to stout
quote:
Worst part?
Rates are still rising and inflation just increased for the first time since October 2022.
and?
interest rates need to get to 10% and stay there
if you borrow money, it should cost you money
if you lend money, you should make money
0
Posted on 2/28/23 at 5:19 pm to stout
I wonder if inflation will finally cool off when 75% of Americans start defaulting on debt and losing their jobs due to recession.
Posted on 2/28/23 at 5:23 pm to GRTiger
quote:
I wonder if inflation will finally cool off when 75% of Americans start defaulting on debt and losing their jobs due to recession.
Not seeing it yet. Has become “good news, is bad news” situation. Economy hasn’t taken a turn yet
Posted on 2/28/23 at 5:24 pm to notiger1997
quote:
That’s cool, but what does that have to do with idiots who can’t manage their finances and have to live a lifestyle they can’t afford?
This financial situation isn't just affecting the idiots, who were always fricked.
Expenses for all families have gone up a lot for normal daily living without having added a single new thing to pay for over the last 2 years. Cost of living is pricing out a lot of the middle class, including people who had a handle on their expenses before.
Posted on 2/28/23 at 5:25 pm to Crowknowsbest
quote:
Paying a credit card monthly takes approximately 23 seconds if you’re taking your time.
I just don’t like messing with it. 
Posted on 2/28/23 at 5:25 pm to stout
quote:That is so sad. Damn!
A record 36% of U.S. adults now have more credit card debt than savings.
Posted on 2/28/23 at 5:30 pm to Cosmo
quote:
Never in my life have I carried a balance
Can make sense if you get a teaser period of no interest and you can pay off before the teaser period ends.
I've used it to my advantage a few times.
Never pay interest on credit cards, kings.
Posted on 2/28/23 at 5:32 pm to stout
It's not bad yet, but when people start defaulting on that debt, shite is going to hit the fan. I don't care about the banks, but people are going to start going without things, or they're gonna start taking things.
Posted on 2/28/23 at 5:33 pm to stout
quote:
46% of credit cardholders carry debt from month to month, up from 39% last year
Wow.... my cards vary from 0% (Amex) to something like 35% (Lowes/HD). I couldn't rationalize spending and rolling a balance at 35% interest. They all get paid off monthly.
Posted on 2/28/23 at 5:38 pm to JoePepitone
quote:
I just don’t like messing with it.
This is insane lol
Posted on 2/28/23 at 5:52 pm to 777Tiger
quote:
same here brawther, frick the points, I hate paying interest now the wife loves the points racket and rakuten and all the other scams but her money is her play money
I put all expenses on the CC, pay it weekly and take the free cash. I never pay interest.
Posted on 2/28/23 at 5:54 pm to stout
Biden's America. 
Posted on 2/28/23 at 5:54 pm to stout
Somehow I feel like I will be punished for living within my means and saving money because other people can't control their emotions.
Posted on 2/28/23 at 6:06 pm to JohnnyKilroy
quote:I don’t use my CCs very much so it’s not a whole lot of money. I carry more cash in my pocket than the credit balance I carry on my cards.
This is insane lol
Posted on 2/28/23 at 6:35 pm to stout
Debt is what is going to destroy this country
Not
Socials
AI
Nukes
Not
Socials
AI
Nukes
This post was edited on 2/28/23 at 6:37 pm
Posted on 2/28/23 at 6:43 pm to JoePepitone
quote:
I don’t use my CCs very much so it’s not a whole lot of money
I don't really use them much either. Maybe for some large purchases.
Posted on 2/28/23 at 6:45 pm to stout
I've never even HAD a credit card
Posted on 2/28/23 at 7:25 pm to TulaneUVA
The ignorance on this is a bliss.
Posted on 2/28/23 at 7:28 pm to GRTiger
'Cause I have thirty thousand dollars in credit card debt.
When they call, I tell them I can't pay it back yet.
Tomorrow, I may buy myself a dining room set
Or this Boba Fett!
Credit card debt, credit card debt,
Credit card debt!
Posted on 2/28/23 at 7:30 pm to stout
How much has the government saved vs its debt again?
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